World Bank’s findings: Poverty More Widespread

According to a current survey by the World Bank, poverty in the developing countries is more than the previously thought.

This current research is conducted based on the new poverty line of $1.25 per day that has been adjusted according to the current inflationary rate , and the findings are that 1.4 billion people fall in the poverty definition.

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The report reviews although the world’s population of the developing countries is growing day by day, yet there is a decline in the poverty rate from 50% to 25% over the past 25 years.

“This is pretty grim analysis coming from the World Bank,”said Elizabeth Stuart, policy advisor at Oxfam.

The report suggested that the region of Africa remained unsuccessful to combat with poverty where the no of poor is almost double between 1981 and 2005.South Asia has the worst figures of the poor people while China is considered to be most successful in reducing poverty.

The world Bank is of the view that there is a need of increasing the efforts to reduce poverty on the part of developed countries either through aid budgets or by other means.